EUR/USD: Scope for a deeper setback to 1.0120 – Credit Suisse EURUSD Banks
remains capped as expected below the 200-Day Moving Average on a closing basis, currently seen at 1.0409. Analysts at Credit Suisse see scope for a deeper setback to the 38.2% retracement of the rally from September at 1.0120.“EUR/USD remains capped as expected by key resistance from its falling long-term 200DMA, currently seen at 1.0409, and with a minor top now seen in place, we continue to see scope for a deeper setback from here.
“Resistance is seen at 1.0334 initially, with a close above the 200DMA at 1.0409 needed to clear the way for further strength back to the 1.0481 high and eventually the 38.2% retracement of the entire 2021-2022 fall at 1.0612/15.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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